It is clear, that after the Financial Supervisory Authority in Iceland appointed a receivership committee, which assumed the role of the Board of Directors of Kaupthing bank, that the merger of SPRON and Kaupthing is cancelled. It is also clear that circumstances in the financial markets have changed profoundly and as a consequence SPRON's results will be negatively impacted. In light of changed circumstances and with the long-terms interests of the company in mind the company is now being restructered and strengthend. SPRON's operations will remain unchanged and employees will continue to do their utmost to service SPRON's customers as best they can under these exceptional circumstances in the financial markets. The Icelandic Government has reiterated, that all deposits which The Depositors and Investor Guarantee Fund applies to, are fully guaranteed. For further information please contact Jona Ann Petursdottir Head of Public Relations, tel: +354 5501771.